[provide a list of contractual or task level assumptions and/or constraints that are preconditions to preparation of the frd. According to the internet, a functional requirements document, abbreviated as frd, is a formal statement of an. It allows you to apply a ratings system to your requirements, so you have the visibility (into the value, status, and description of each requirement) that’s. The overall obs covers a wide range of features, which are. The frd is produced by business analysts or sometimes the technical team in response to the business.